Eaton Co. plc (NYSE:ETN) Receives $368.78 Average Target Price from Analysts

Eaton Co. plc (NYSE:ETN - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the nineteen analysts that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $368.78.

A number of equities research analysts have recently commented on ETN shares. Barclays increased their target price on shares of Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a research report on Monday. Citigroup boosted their target price on Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Jefferies Financial Group cut their price target on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research note on Sunday, May 18th. Finally, BNP Paribas Exane started coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock.

Eaton Stock Up 1.3%

NYSE:ETN traded up $4.38 during mid-day trading on Thursday, hitting $330.09. 1,777,259 shares of the company's stock traded hands, compared to its average volume of 2,639,778. The company has a market capitalization of $129.16 billion, a P/E ratio of 34.75, a P/E/G ratio of 2.64 and a beta of 1.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The company has a fifty day moving average of $301.79 and a 200 day moving average of $315.72. Eaton has a twelve month low of $231.85 and a twelve month high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. Eaton's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $2.40 EPS. On average, analysts forecast that Eaton will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.26%. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Insider Buying and Selling

In other news, insider Craig Arnold sold 51,054 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the transaction, the insider now owns 489,444 shares in the company, valued at $149,490,880.92. This represents a 9.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider now directly owns 3,382 shares of the company's stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 156,660 shares of company stock valued at $49,622,894. Company insiders own 0.30% of the company's stock.

Institutional Trading of Eaton

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. IMA Advisory Services Inc. bought a new position in shares of Eaton during the 1st quarter worth about $25,000. Capital A Wealth Management LLC bought a new position in shares of Eaton in the 4th quarter worth $26,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton in the 4th quarter valued at approximately $27,000. Creative Financial Designs Inc. ADV grew its holdings in shares of Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after buying an additional 51 shares during the period. Finally, Noble Wealth Management PBC bought a new position in shares of Eaton during the 4th quarter valued at about $30,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. The company's Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.